DGX - Quest Diagnostics upgraded to neutral at Citi on current valuation

2023-04-03 15:11:27 ET

• Citi has upgraded Quest Diagnostics ( NYSE: DGX ) to neutral from buy saying that its current valuation accurately reflects its risk and reward.
• The firm also upped its price target to $142 from $125 (~1% upside based on Friday's close).
• Analyst Patrick Donnelly wrote that while an uncertain base business volume recovery and wage inflation were weighing on the stock, there is potential upside from value-based contracts, pricing, and Protecting Access to Medicare Act and CMS draw fees.
• He added that his preferred name in the diagnostics space is Exact Sciences ( NASDAQ: EXAS ).
• Read why Seeking Alpha contributor Ryan Licwinto recently issued a buy rating for Quest Diagnostics ( DGX ).

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